May 1, 2020 / 3:10 PM / a month ago

United sees third-quarter daily cash burn under $40 million, still taking jet deliveries

FILE PHOTO: A United Airlines passenger jet takes off with New York City as a backdrop, at Newark Liberty International Airport, New Jersey, U.S. December 6, 2019. REUTERS/Chris Helgren/File Photo

(Reuters) - United Airlines Holdings Inc (UAL.O) expects to reduce its daily cash burn to below $40 million in the third quarter, even with zero passenger revenues and no additional capital raisings, and will continue taking jet deliveries this year and next, executives said on a conference call.

Chicago-based United posted late Thursday a first-quarter loss of $1.7 billion, including charges against investments in Latin America, and said it expected to burn through $40 million to $45 million in cash per day in the second quarter.

Reporting by Tracy Rucinski and Sanjana Shivdas; Editing by Chizu Nomiyama

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